King Charles III bank notes and coins: Are they in circulation yet? (2024)

FAQs

Is Charles Money in circulation? ›

King Charles III banknotes to enter circulation on 5 June 2024. Banknotes featuring a portrait of King Charles III will be issued from 5 June 2024. The portrait of the King will appear on existing designs of all four banknotes (£5, £10, £20, and £50), with no other changes to the existing designs.

The Bank of England has announced it will begin circulating bank notes with the image of King Charles III from June 5 this year, 2024. That means that, at some point, notes featuring the image of his mother Queen Elizabeth II will no longer be usable.

Website Change Checker estimates that 4.9million 50p King Charles III Memoriam coins entered into circulation at the end of 2022, while 5million 50p King Charles Coronation coins entered into circulation this year.

This note replaces our paper £20 note which was withdrawn from circulation after 30 September 2022. You may be able to deposit withdrawn notes at your own bank or with the Post Office. Alternatively, you can exchange withdrawn banknotes with selected Post Office branches or with the Bank of England.

New notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes. Current banknotes featuring the portrait of HM Queen Elizabeth II will continue to be legal tender and will only be removed from circulation once they become worn or damaged.

It's the Scarcity Index update we've all been waiting for, as the FIRST EVER King Charles III 50p finally makes an appearance! 4.9 million of these coins entered circulation in December 2022 and collectors have since been finding them in their change, adding them to their collections and swapping with other collectors.

The Crown, and therefore the Queen, has an arrangement with Parliament to surrender the profits from the Crown Estate (the Queen's personally-owned lands) to Parliament in exchange for an annual salary (roughly 15% of the profits for the year that started two years before, or about £30–40 million).

Money with the Queen's face will remain legal tender and therefore valid to spend until a certain date. The Queen's coins did not appear until 1953 - the year after her accession. Elizabeth II's coins are expected to stay in use until they are gradually replaced.

Millions of 50p coins bearing the King's portrait will be available from today via post offices and banks across the UK.

Will coins be worth anything in the future? ›

Like most markets, the market for rare and collectible coins is as vulnerable to volatility and price swings as any other — and many coin experts expect plenty of volatility in 2024 due to the broader economic climate. This means certain rare coins will significantly rise in value in the coming months.

Collectibles are only ever worth as much as a collector is willing to pay but at the moment collectors are willing to pay around £3-£4 for a circulated version of this coin in excellent condition. Uncirculated versions will be considerably more. Where can I buy a 2022 King Charles III 50p coin?

Exchanging old banknotes

Many banks accept withdrawn notes as deposits from customers. The Post Office will also accept withdrawn notes as a deposit into any bank account you can access at the Post Office.

Pay them in at your high street bank or Post Office.

You can also exchange old paper banknotes for the same value in current polymer notes at 30 selected Post Office branches – you can view the full branch list on the Bank of England website. This includes the old paper £5, £10, £20 and £50 notes from the last series.

In short, whenever you put physical currency (i.e. dollar bills and rolled coins) into a bank account, that's a cash deposit. It's an easy way to add funds to your account, whether you're aiming to pay off debts or add to your savings. It doesn't matter if you're adding a quick $20 or depositing large amounts of cash.

This morning, the Bank of England presented King Charles with the first bank notes featuring his image. At Buckingham Palace, Bank of England Governor Andrew Bailey and Bank of England's Chief Cashier Sarah John showed the King the new £5, £10, £20, and £50 bills that feature his portrait.

This 50p coin features the likeness of King Charles III and is highly sought after by collectors. Its rarity and historical significance make it a valuable addition to any coin collection.

"£500 notes are very rare and, in fact, only available from three Bank of England branches - London, Liverpool and Leeds. Although some were issued in Birmingham and Manchester none have ever come to light. "Of those available, Leeds branch, like this one, are the rarest.

Queen Elizabeth II faced right on all coinage bearing her image. Throughout her reign, nations would update the portrait being used, but it would continue to face the right. King Charles III, like his grandfather, King George VI, will face the left on coinage bearing his likeness.